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Economic Times
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EV infrastructure startup Kazam raises $6.2 million in round led by International Finance Corporation
- EV infrastructure startup Kazam raises $6.2 million in a funding round led by International Finance Corporation (IFC), with participation from existing investors.
- This brings Kazam's total funding to $19.2 million, focusing on expanding its presence in domestic and international markets.
- Kazam provides software and hardware solutions for EV charging and battery swapping operators.
- The company plans to use the funds to scale its digital infrastructure for EVs toward clean mobility transition.
- Kazam, founded in 2020, helps manage and optimize charging assets, enabling over five million charging sessions so far.
- The platform has onboarded 68,000 chargers, facilitating 45 gigawatt hours of energy and reducing 46,000 tons of carbon emissions.
- Kazam's revenue surged from $1.5 million in FY24 to $6 million in FY25, targeting $12 million in revenue this fiscal.
- The company's platform operates in 80 cities across 10 countries, aiding in 25 million electric kilometres in a month.
- IFC's investment in Kazam supports the growth of electric mobility, especially in developing economies lacking EV charging infrastructure.
- The backing from IFC signals confidence in Kazam's potential to contribute to decarbonizing transport, especially in emerging markets.
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